This bill amends existing Iowa law regarding the filing of biennial reports by business entities with the Secretary of State. It removes a specific paragraph from Section 490.122 and introduces a new subsection that allows the Secretary of State to impose, assess, and collect a filing fee as a condition for accepting these biennial reports. Additionally, the bill modifies Section 490.1621 to change the language regarding the timing and requirements for submitting the biennial report, specifying that the first report must be delivered between January 1 and April 1 of the first even-numbered year following incorporation or registration, and subsequent reports must be delivered in each following even-numbered year.

The bill also clarifies that the filing fee for the biennial report will be determined by the Secretary of State, aligning the language with similar statutes for other business entities. This change aims to streamline the process and ensure consistency across different types of business entities, including domestic and foreign corporations, limited partnerships, and nonprofit organizations. Overall, the bill seeks to modernize the reporting requirements and establish a clear framework for the associated fees.

Statutes affected:
Introduced: 490.122, 490.1621